Bittium expands its medical technology offering to Switzerland by investing in a Swiss remote diagnostics service company

Bittium expands its medical technology offering to Switzerland by investing in a Swiss remote diagnostics service company

With this investment, Bittium launches its medical remote diagnostics service in Switzerland and introduces a flexible monitoring model based on wireless data transfer

Free for publication on July 12, 2018 at 2pm (CEST +1)

Bittium expands its medical technology offering to Switzerland by investing in a Swiss remote diagnostics service company

With this investment, Bittium launches its medical remote diagnostics service in Switzerland and introduces a flexible monitoring model based on wireless data transfer

Oulu, Finland, July 12, 2018 – Bittium expands its medical remote diagnostics service offering to Switzerland by investing in evismo AG, a Swiss medical remote diagnostics service provider. Bittium and evismo will jointly provide customers with full-scale remote diagnostics service that at this stage includes remote diagnostics service platform, monitoring the electrical activity of the heart, wireless measurement data transfer, and analysis and diagnostics of measurements.

The investment will be carried out by subscribing new shares in evismo AG, the subscription will be carried out in two phases. After the share subscription on July 11th, Bittium’s holding of evismo is 17.4 percent and, subject to certain commercial terms by March 31, 2019, Bittium’s holding would be 25 percent.

The purchase order does not change Bittium's financial outlook for the year 2018, published on February 22, 2018 in the Bittium Corporation’s Financial Statement Bulletin 2017.

Bittium's service solution includes biosignal measurement devices and analysis software and facilitates the transfer of the recorded ECG measurements and the related diagnostic reports securely through the remote diagnostics platform to ease and speed up patient care. In this service package, Bittium Faros™ ECG measuring devices will be used to measure the electrical activity of the heart. Bittium Faros is a versatile ECG device, which by its technical capabilities enables a complete service concept to provide customers with flexible short and long-term recordings. Bittium Tough Mobile smartphones will be used for the wireless transfer of daily measurement data. Bittium Tough Mobile™ is a secure and strong Android-based LTE smartphone that combines the latest information security solutions and commercial smartphone technologies. Bittium Cardiac Navigator™ will be used for analyzing the ECG recordings. Bittium Cardiac
Navigator is completely new type of solution for the efficient analysis of clinical Holter ECG recordings. Bittium will also provide the remote diagnostics service platform for the service concept.

The founders of evismo have a long experience in the development, technology management, sales, marketing and business development of cardiac monitoring products and systems. evismo offers remote diagnostics services for general practitioners, cardiologists, clinics, hospitals and other healthcare professionals.

“We are excited that we closed our first investment round with Bittium, our preferred and selected provider for ECG monitoring devices and software. With the funding, evismo will be able to accelerate launch and growth by building the right team and infrastructure. With Bittium we have found a partner who understands and lives remote monitoring and patient data security. We can work closely with the whole team at Bittium on our development needs and they share our vision of user friendly and digitally transformed monitoring. Together we will increase patient comfort and safety while reducing healthcare costs”, says Willemien van den Toorn, co-founder and managing partner of evismo AG.

“The co-operation with evismo enables Bittium to gain access to a network of doctors and specialists in Switzerland to support the development of technology for remote medical diagnostics. This co-operation also opens the marketing and sales for Bittium’s remote diagnostic services business in Central Europe. evismo's long-term experience in medical remote diagnostics combined with Bittium's over 30 years of experience in radio technologies and biosignal measurements enables the rapid development and implementation of an innovative and comprehensive system. Through this co-operation, we believe we can improve healthcare services by developing advanced and cost-effective systems and devices,” says Arto Pietilä, Senior Vice President, Bittium Medical Technologies.

The deal expands our offering in the Medical Technologies product and service area and supports Bittium's strategic goal to grow as a biosignal measurement solution provider.